Opinion: Ripple's application for a Fed master account is more significant than its application for a national bank license
7 hours ago
Odaily News Crypto journalist Eleanor Terrett commented on "Ripple submits application for national bank license to the U.S. Office of the Comptroller of the Currency (OCC)". "In addition to this application, Ripple has also applied for a Federal Reserve master account through Standard Custody, a trust company it acquired last year. Obtaining a Federal Reserve master account means more in terms of access than obtaining an OCC license. In terms of hierarchy, master accounts are diamond-level, bank licenses are platinum-level, trust companies are gold-level, and money transmission licenses are silver-level." "Historically, the Federal Reserve has resisted giving cryptocurrency companies direct access to payment systems, even though critics believe this can reduce risks. The Fed is currently defending this position in the Custodia Bank lawsuit involving depository institutions' access to master accounts, and a ruling is expected to be released at any time."
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2025-07-03 08:14:22
Gate launches xStocks US stock zone: Opening a tokenized US stock contract market, 24/7 trading
Odaily News Gate officially launched the xStocks U.S. stock trading zone, supporting both spot and contract markets. The first batch of support includes 8 popular U.S. stock targets including COINX, NVDAX, CRCLX, AAPLX, METAX, HOODX, TSLAX, GOOGLX, etc. Users can directly trade tokenized U.S. stocks through crypto assets such as USDT. At the same time, Gate Alpha has also opened the xStocks trading function. The first batch of online targets include MSTRx, CRCLx, SPYx, NVDAx, TSLAx, and AAPLx, further enriching the user's choice space in on-chain asset trading and strategy exploration. Gate has become the world's first trading platform to support the encrypted U.S. stock contract market. Gate xStocks U.S. stock zone adopts a compliant physical asset tokenization model. All online tokens correspond to publicly traded stocks, have full asset collateral, support free transfer and on-chain transactions, and can achieve seamless integration across blockchains and multiple ecosystems. Gate's US stock trading is open to global users, has no KYC restrictions, supports 24/7 trading and other functions, greatly reducing the investment threshold. With the Gate brand upgraded to Gate.com in 2025, the platform's spot trading volume and liquidity ranked second in the world, and the contract market grew steadily, ranking among the top five in the world. Gate is accelerating the strategic implementation of the crypto asset platform in the global financial infrastructure.
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Gate launches xStocks US stock zone: Opening a tokenized US stock contract market, 24/7 trading
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Speaker of the U.S. House of Representatives: The final vote on the "Big and Beautiful Bill" will be held at 20:00 today